New Delhi: PTC India on Monday reported a more than 28 percent decline in consolidated net profit to Rs 159.10 crore for the September quarter, as higher expenses outpaced growth in total income.
The power trading company had posted a net profit of Rs 222.05 crore in the corresponding quarter of the previous financial year, according to an exchange filing.
Total income rose to Rs 5,958.24 crore in the second quarter of FY27 from Rs 5,585.21 crore a year earlier. Total expenses, however, increased to Rs 5,788.97 crore from Rs 5,287.25 crore.
On a standalone basis, PTC India’s electricity trading volume grew 24 percent to 32.46 billion units during the quarter, the company said in a statement.
Managing Director and CEO Manoj Kumar Jhawar said trades across different tenures contributed to the volume growth. However, lower cross-border power supplies from Bhutan weighed on trading income.
"The cross-border power from Bhutan has shown a significant dip due to higher domestic requirements in Bhutan, leading to a decrease in trading income to that extent," he said.
(PSU Watch is India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy. 👉 Click to join our channel now: PSUWatch WhatsApp Channel. Prefer LinkedIn? Follow PSU Watch on LinkedIN. Click to stay connected on Twitter here and stay updated.)